Altivia will acquire Dow's acetone derivatives business and associated chemical manufacturing assets at Institute, West Virginia, as well as the Institute Industrial Park.
Altivia Ketones & Additives, LLC, an affiliate of Altivia Petrochemicals, enters into a definitive agreement to acquire Dow's Acetone Derivatives Business and associated chemical manufacturing assets at Institute, West Virginia, as well as the Institute Industrial Park. The acetone derivatives business manufactures ketones and carbinols, used primarily in the coatings, adhesive and pharmaceutical industries. It is reportedly the largest North American production facility of its kind.
The 460-acre Institute Industrial Park was originally operated by Union Carbide and became an industrial park in the mid-1980s. The facility houses the acetone derivatives business as well as other Dow and DuPont businesses, which receive utility and logistics services to support chemical production activities.
"Acquiring this facility and associated technology provides downstream expansion for Altivia’s acetone production capacity and access to global markets, for acetone derivatives," says Altivia Chief Executive Officer J. Michael Jusbasche. "Additionally, the Institute Industrial Park's excess capacity of utilities and services provide options to install additional chemical production for a fraction of the cost of alternatives."
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